10% CAP Rate with two tenants. Once with leasehold and another long-term tenant. Investment grade property with plenty of upside! 7.08 AC Parcel with two buildings. Leasehold tenant (EZ Loader) is in front 19,000 SF building. Back building occupied (Uniforce) is 10,000 SF fully occupied and currently a Month-To-Month, long-term tenant. This parcel would be purchased subject to the lease and the income stream. Current Net income for both tenants is $58,003 asking $580,000 at a 10% CAP Rate. In addition, two adjacent parcels available. Parcel #115 features 4.18 Acres with a 4,000 SF prefab metal flex building with two small month-to-month tenants plus frontage parcel #211 (2.82 AC) for $200,000. This 3-parcel assemblage with Highway Frontage is approx. 14.08 AC. Good cash flow with opportunity for much more plus development land. Next to NEA CO-OP substation. Properties priced to sell separately or as a whole and income statement available. Individual property purchases to be priced separately. Zoning S-1, S-2 & C-2. No survey available. Any subdivision requests will be considered separately and will be the responsibility of a Buyer. Buyer of parcel #114 only will be required to provide an easement to back acreage (if necessary).
NOTE: Leasehold tenant EZ Loader just renewed their lease and have two (2) 2-year lease renewals remaining on lease (with 6% increases) with option to renew. Current renewal period effective date 1/1/24-12/31-25. Tenant EZ Loader (per the lease) does have a 10-calendar day Right of First Refusal to match any formal bona-fide offer that the Seller is willing to accept.
All other tenants are month-to-month. Net income $/year is $58,003 for parcel #114. NOI for all income is $67,003.